MANTRA to Tokenize $1 Billion DAMAC Assets
According to an announcement made on Thursday, MANTRA plans to tokenize more than $1 billion of DAMAC Group’s assets starting in early 2025.
DAMAC, led by UAE-based Hussain Sajwani, runs a multi-billion dollar conglomerate with interests in real estate, hotels and data centres.
MANTRA takes a major step towards tokenizing RWA
DAMAC will start accepting cryptocurrency payments in 2022 and is now moving towards blockchain-based assets Tokenization. The program will allow investors to access DAMAC’s diversified portfolio of investments, including real estate development and other ventures, via digital tokens.
This approach aims to simplify the investment process and expand opportunities for retail and institutional players. Details about specific properties and Tokenized products It will be revealed in the coming weeks. These products are scheduled to be launched in early 2025.
“Partnering with DAMAC Group is a testament to the RWA industry. We are delighted to be working with such a reputable group of leaders who share our ambitions and see huge opportunities in bringing traditional financing opportunities on-chain. ” explain John Patrick Mullin, CEO, MANTRA.
MANTRA launches mainnet October. Since then, the market value of its native token OM has increased significantly. The coin has gained 200% in the past three months to reach $3.6 billion, record high December.
DAMAC’s partnership with MANTRA represents a growing shift towards blockchain-driven investment models that promise to reshape traditional markets by increasing efficiency and accessibility for investors around the world.
Growing interest in tokenizing real-world assets
Tokenization involves the conversion of traditional assets Convert real estate, securities, commodities, etc. into blockchain-based digital tokens representing ownership.
The process is gaining traction globally for its potential to increase settlement speed and expand investor access. The report estimates that the market Tokenized real-world assets It could reach trillions of dollars by the end of the century.
The industry experiences significant activity in 2024. BlackRock launched the BUIDL tokenized fund in March. Ever since Expands to five major blockchainsincluding Aptos, Decide, avalancheoptimistic and polygonal.
The fund provides on-chain yield, flexible custody and integration features. Several projects such as Ethena and Frax have Launch of stablecoin backed by the fund.
return, Tether advances its tokenization strategypreparing to launch Hadron, a RWA tokenization platform. Starting in February 2025, Hadron will provide full user interface and API support for institutional use.
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